CB Richard Ellis Implements European Roll-out of Yardi’s Property & Asset Management Solution


London – November 17, 2009 – Yardi Systems, the leading developer of software for investment, asset and property management announces that CB Richard Ellis has completed the second phase of the rollout of its Voyager™ Real Estate Business Solution.

CBRE first implemented Voyager in 2008 as the solution of choice to manage the portfolio of properties held in cross-border funds as well as enabling a more seamless international approach to the property and asset management services provided to their clients.

With over 12,000 tenants in more than 3,800 properties and approximately 10.6 million square meters of commercial space in their care, CBRE is one of the largest property managers in Europe.

With an ever-growing portfolio spanning many European borders, this latest step brings CBRE’s operations in Spain, France, Netherlands, Germany and Austria on-line and is seen as a critical building block in the provision of increased levels of service, supporting all Pan-European clients through a single, integrated software platform.

Nigel Biggs, Head of European Property and Asset Management, CB Richard Ellis, said: “The latest phase in our European roll out of Yardi is significant as we are now uniquely placed to offer Pan-European client’s great efficiencies by having all their financial and lease data on one system. This is coupled with excellent local knowledge through our extensive European network. Clients previously had multiple managers on multiple systems which made it impossible to analyse data and make informed decisions quickly. ”
Richard Gerritsen, Regional Director, European Sales for Yardi, said: “With a leading Property Management company like CBRE choosing Yardi, there is an indicator that our solution is becoming the system of choice for Pan-European Property Management. It’s an acknowledgment of our philosophy to support real estate organisations provide better services and offer greater value to clients by working on single integrated software platforms. It’s now seen as an accepted business model.”

About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the company serves real estate owners, investors and occupiers through more than 300 offices worldwide
(Excluding affiliate offices).

CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis is the only commercial real estate services company named one of the 50 “best in class” companies by Business Week, and was also named one of the 100 fastest growing companies by Fortune. www.cbre.com.

About Yardi Systems, Inc.

Yardi Systems is a global leader in the design, development, and support of integrated investment and property management software for fund and asset managers, investor services providers, property managers and property accountants. Yardi’s software serves more than 15,000 clients, from small locally operating organizations to global investment firms. Headquartered in Santa Barbara (USA), Yardi has a global network of offices, among which offices in Milton Keynes (UK), Amsterdam (Netherlands) and D�sseldorf (Germany). More information about Yardi products and services may be found by visiting www.yardi.com.

Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255